6 3.12 points Skipped eBook References Exercise 4-25 (Algo) Interfund and Inter-activity Transactions [LO 4-5] The following transactions affected various funds and activities of the Town of Big Springs. Required a. Prepare the journal entries for the funds and activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund / Governmental General Journal Debit Activties Credit 1. The Fire Department, a governmental activity accounted for within the General Fund, purchased $165,000 of water from the Water Utility Fund, an enterprise fund. 1 General Fund Governmental Activities Enterprise Fund 2. A special revenue fund was awarded a $250,000 reimbursement grant. The General Fund advances $82,500 to the special revenue fund to cover initial costs associated with the grant's purpose. 2 General Fund Governmental Activities Special Revenue Fund 3. The General Fund transferred its annual contribution of $165,000 to the debt service fund for interest and principal on general obligation bonds due during the year. 3 General Fund Governmental Activities Debt Service Fund 4. The $6,300 balance in the capital projects fund at the completion of construction of a new Town Hall was transferred to the General Fund. 4 General Fund Governmental Activities Capital Projects Fund 5. The General Fund made a long-term loan in the amount of $82,500 to the Central Stores Fund, an internal service fund that services town departments. 5 General Fund Governmental Activities Internal Service Fund